Mexico Factory Automation and Machine Vision Market worth $6.99 Billion by 2020, According to a New Study on ASDReports

Thursday 9 October 2014, Amsterdam

According to a new market research report, now available on ASDReports, “Mexico Factory Automation and Machine Vision Market by Technology (ICS, MES, ERP, ITS), Field Devices, Products (PC-based, Smart Camera, Embedded), Components (Camera, FGOL), Application (Process, Discrete) - Global Forecast & Analysis to 2013 - 2020”, the factory automation market is expected to grow at a CAGR of 6.18% from 2014 to 2020.

The factory automation and machine vision is an emerging trend in the manufacturing organizations, providing smart manufacturing setup. Factory Automation provide cost efficiency, quality and standard production, reliability and flexibility in the production process. The factory automation and machine vision includes the perfect blend of technologies, products, mechanical components, devices and Information Technology. The emerging applications like Heating Ventilation Air Conditioning (HVAC) systems, Human Machine Interface (HMI) and electronic power distribution systems will further surge the demand of automation systems in the coming future.

The overall factory automation and machine vision is segmented on the basis of: technology, field Devices, products, components and applications. All the major segments are further segmented into sub segments, with separate classification. The factory Automation market is expected to reach to $6.99 Billion by the year 2020, from $4.61 Billion in 2013, with a projected CAGR of 6.18%

The emphasis by market players on energy saving and efficiency improvement is driving the market, with other market driver factors proximity to the U.S., government impetus to manufacturing activities and shifting manufacturing base of automotive companies from China to Mexico.